News
Committee of Chief Risk Officers releases best practices recommendations
The Committee of Chief Risk Officers (CCROs), the Washington DC-based association for energy company risk managers, yesterday released its best practice recommendations, urging merchant energy companies to increase market transparency.
OneChicago to expand product range
US single-stock futures (SSFs) trading company OneChicago plans to expand its product suite on Friday (November 22)with 22 more stock listings. It will also introduce futures on ‘Diamonds’ – shares in an exchange-traded fund (ETF) that is designed to…
Ice addresses energy trading market concerns with two new hires
Atlanta-based online commodities exchange IntercontinentalExchange (Ice), has appointed two new directors as part of its plans to address concerns about the health and legitimacy of the energy trading markets. Ann Cresce has been appointed assistant…
UK opposed to allowing wider op risk insurance role in European capital rules
UK regulators are opposed to the wider use of operational risk insurance to reduce capital charges under complex new European Union (EU) safety rules for banks and investment firms, regulatory sources said.
Citigroup wins FX Week strategy award
Citigroup’s FX strategy team took the top spot in FX Week's best bank in FX research and strategy award, ousting last year’s winner Deutsche Bank into second place.
Financial institutions have scope for improvement in risk management, says PwC
Leading financial institutions are moving towards a more holistic and integrated approach to risk management, but need to continue to improve their risk management processes, according to a new survey from financial services firm PricewaterhouseCoopers …
Credit protection for German financial institutions remains stable
The cost of credit protection for German financial institutions, including Deutsche Bank, Dresdner Bank and insurer Allianz, remained relatively stable today, despite negative rating outlook changes from Moody’s.
UK opposed to allowing wider op-risk insurance role in European capital rules
LONDON – UK regulators are opposed to the wider use of operational risk insurance to reduce capital charges under complex new European Union (EU) safety rules for banks and investment firms, regulatory sources said.
Basel II helps German banks focus on risk, says Moody's
A renewed focus on profitability and strategic refocusing among German banks leads Moody's Investors Service to believe that “the country's banks will not undergo a systemic crisis”, the rating agency said in a report on the German banking sector,…
GFI and Lombard launch credit derivatives mark-to-market partnership
Inter-dealer broker GFI said today it has formed a new credit derivatives pricing alliance with Lombard Risk Systems, a London-based risk management technology company.
Eurex launches futures and options on exchange-traded funds
Eurex, the European derivatives exchange, yesterday provided investors with a new hedging tool by launching futures and options on exchange-traded funds (ETFs).
EU capital rules remain on tight deadline
European Union (EU) plans for implementing the complex Basel II bank safety rules remain on a very tight schedule, and yesterday's issue of a EU progress report is a positive step, officials at European banking organisations said.
SunGard appoints new Asia-Pacific president
Pennsylvania-based risk technology vendor SunGard has appointed John Wilson as president of the company’s Asia-Pacific business. Wilson will take over the reins from Matt Mandalinci, who has been appointed president of SunGard eProcess Intelligence,…
Weather Board of Trade delays launch as problems mount
Atlanta-based Weather Board of Trade (WBOT), which was set for an October launch, will now only start trading exchange-based weather derivatives in February 2003. WBOT has also lost a number of its charter members, encountered problems with its fund…
Astin selects Reech for hedge fund risk monitoring
Astin Capital Management, an independent UK hedge fund manager, has selected London-based financial software provider Reech Capital to provide its risk monitoring service.
Hong Kong Exchange launches new equity index option
The Hong Kong Exchange and Clearing (HKEx) has launched a new equity index option for retail investors, called the Mini-Heng Sang Index Options (Mini-HSIO). On its first day of trading yesterday, volume on the Mini-HSIO reached 171 contracts, comprising…
WestAM enters hedge fund market
WestAM, the €38 billion asset management arm of German bank West LB, has launched its first hedge fund, WestAM Navigator Global Fixed Absolute Return Fund.
Basel II helps German banks focus on risk, says Moody's
A renewed focus on profitability and strategic refocusing among German banks leads Moody’s Investors Service to believe that “the country's banks will not undergo a systemic crisis”, the rating agency said in a report on the German banking sector,…
BNP Paribas looks for new interest rate derivatives trading head
BNP Paribas is looking for a head of interest rate derivatives trading for Asia-Pacific, following the departure of Monty Agarwal in mid-October.
EU capital rules remain on tight deadline
LONDON – European Union (EU) plans for implementing the complex Basel II bank safety rules remain on a very tight schedule, but the issue today of a EU progress report is a positive step, officials at European banking organisations said today.
Europe considers wider op-risk insurance role in new capital rules
BRUSSELS - The European Commission confirmed today it proposes the possible recognition of operational risk insurance as a way of reducing capital charges in all three methods of measuring op risk in its new protective capital rules for banks and…
Insurance companies turning to hedge funds, says Swiss Re
Insurance companies are increasingly turning to third-party asset managers to improve returns and manage risk, according to a new study by Swiss Re. As a result of the trend, insurers' alternative investment holdings in hedge funds are poised to grow by…
Europe considers wider op risk insurance role in new capital rules
The European Commission confirmed today that it proposes the possible recognition of operational risk insurance as a way of reducing capital charges in all three methods of measuring op risk in its new protective capital rules for banks and investment…
Prebon builds bridge to SwapsWire
Institutional broker Prebon Yamane is going live this week with a system, developed in-house, that allows traders to have direct links to the SwapsWire online platform, according to officials at the firm, based in London. Swapswire, owned by a consortium…